Deals
Egypt's Top Stock Set to Renew Gains as Refinery Boost Nears
- Qalaa’s flagship project slated to start producing early 2019
- Investment firm’s head seeks to end losses following disposals
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The best-performing stock in Egypt this year might be about to reward investors even more as a turnaround plan moves forward and the company completes a long-awaited project.
Qalaa Holdings SAE, the Egyptian investment firm formerly known as Citadel Capital, is pushing to end annual losses by selling underperforming assets and lowering debt before its flagship oil refinery venture in Cairo comes to life next year, co-founder and Managing Director Hisham El-Khazindar said.